Anil Singhvi's strategy on Sept 8: Support zone on Nifty is 17540-17600 and Bank Nifty is 39250-39325

Ahead of positive global markets, neutral foreign institutional investors (FIIs), neutral domestic institutional investors (DIIs), neutral Future and Options (F&O) and positive sentiment, the short-term trend of the Indian market will remain positive on Thursday, September 8, said Zee Business Managing Editor Anil Singhvi.

Anil Singhvi's strategy on Nifty, Bank Nifty on September 8, 2022  

Nifty support zone is 17540-17600, below that 17400-17475 is a strong buy zone 
 
Nifty higher zone is 17690-17765, above that 17825-17850 is a profit booking zone 
 
Bank Nifty support zone is 39250-39325, below that 39050-39200 is a strong buy zone 
 
Bank Nifty higher zone is 39675-39850, above that 39950-40050 is a profit booking zone 
 
Nifty support levels 17600, 17575, 17540, 17500, 17475, 17400 
 
Nifty higher levels 17650, 17690, 17750, 17775, 17825, 17850, 17950 
 
Bank Nifty support levels 39425, 39325, 39250, 39200, 39050, 38925 
 
Bank Nifty higher levels 39575, 39675, 39750, 39800, 39850, 39950, 40050, 40325 
 
FIIs Index Long at 20% Vs 19%  
PCR at 1.07 Vs 1.05 
BankNifty PCR at 0.80 Vs 0.93 
India VIX down by 1% at 19.37 

For Existing Long Positions: 
 
Nifty Intraday and Closing SL 17475 
Bank Nifty Intraday SL 39200 and Closing SL 39300 
 
For Existing Short Positions: 
 
Nifty Intraday SL 17800 and Closing SL 17760 
Bank Nifty Intraday SL 39600 and Closing SL 39800   

For New Positions: 
 
Buy Nifty: 
SL 17525 Tgt 17650, 17690, 17750, 17775, 17825, 17850 
 
Aggressive Traders Sell Nifty in 17825-17950 range: 
Strict SL 18000 Tgt 17775, 17700, 17650, 17600, 17575, 17550, 17525 
 
For New Positions: 

Buy BankNifty: 
SL 39200 Tgt 39550, 39650, 39750, 39800, 39850, 39950, 40050, 40325 
 
Aggressive Traders Sell BankNifty in 39800-40050 range:

Strict SL 40100 Tgt 39750, 39675, 39575, 39450, 39325, 39250, 39200
 
F&O Ban Update: 
Already In Ban: Delta Corp 
New In Ban: Nil 
Out Of Ban: Nil